Dragon knows no bounds

Picture this - you come home to find a dragon nonchalantly lounging in your living room. You’d be surprised, right? Well, surprise is merely one facet of this majestic creature’s character. Brace yourself for an enthralling journey where its capricious nature sets the stage for an uncertain but astonishing adventure for the HSI, our favourite Earth Rooster.

A gaze into our crystal ball tells us that the dragon has become entangled in the cottontail rabbit’s elongated tail, signifying general weakness in the market in the first half of the year, with a potential to rise to positive territory only in the heart of summer or even later and, if fate supports, stay there for the remainder. But be warned, traversing this market on the dragon’s back is anything but a smooth sailing experience.

Our attempt to decipher the dragon’s path is akin to peering through a pinhole once a month to gain glimpses of its elusive movements. While not as enigmatic as Schrödinger’s Dragon, it is a beast that is hard to pin down. The accompanying chart highlights the days we anticipate as the best and worst for the Hong Kong market. However, true to the dragon’s nature, these days may exhibit an inclination opposite to what we have indicated or offer no direction at all. So, hop aboard and buckle up, Mr Rooster - roller coasters are nailed to the earth, but the dragon is not.

A closer look

  Soaring Dragon     Sinking Dragon  
Wood  Tiger

4 Feb - 4 Mar

The dragon opens one eye and shuts it. After some time, it does the same with the other eye. Days go by. The Lotus Eaters come and go. The dragon’s tongue lolls out. Before long, it is coming to the end of the month, and the dragon still seems listless.

Wood  Rabbit

5 Mar - 3 Apr

The groggy dragon stumbles out of its cave. Unable to read the signposts left by the rabbit, it tumbles down the hill, bringing a lot of dust and rocks with it. After the tiring fall, it finds a spot by a small stream on the plains and treats itself to a sleep-in.

Earth  Dragon

4 Apr - 4 May

Almost déjà vu. The dragon's eyes flicker open momentarily, only to seal shut once again. As days pass, the people rest in peaceful apathy. The dragon's tongue retreats into its mouth and it remains lethargic.

Fire  Snake

5 May - 4 Jun

Finally, some conscious movement. Aware of the peril that awaits a slumbering dragon exposed on the plain, it begins to lumber back up the hillside, and by the end of the month, it has once again found its resting place from early spring.

Fire  Horse

5 Jun - 5 Jul

Perhaps distracted by landing in the month of the Fire Horse, whose year it will be in 2026, or by an offer to perform on a stage somewhere, the dragon is not paying attention to the environment and once again slips back down towards the plain.

Earth  Goat

6 Jul - 6 Aug

In yet another turnaround - and we are only halfway through the year - the dragon exactly reverses the slide from the previous month. What's on the dragon's mind? Who knows, perhaps even the dragon doesn't, but the reverse motion is welcome.

Metal  Monkey

7 Aug - 6 Sep

Doubling the improvement from the previous month, the green wood dragon must have finally availed itself of solar and wind power to begin to soar. For the first time in the year, the dragon is clearly above the level at which it began.

Metal  Rooster

7 Sep - 7 Oct

Taking time to bow to the audience’s plaudits, the dragon tumbles off the stage and falls a short distance before clawing its way to a stop. Undeterred, it immediately sets about performing for the new audience.

Earth  Dog

8 Oct - 6 Nov

The dragon will finish this month still above the year’s starting point, yet this is another month with slippage. Distracted again by other affairs, the dragon slowly walks down and around, seemingly without purpose but taking the market with it.

Water  Pig

7 Nov - 5 Dec

Almost as unexpectedly, the finest month of the year comes unbidden. Perhaps the cooling year kindles its heart and a final concerted effort is made to produce something grander than all that has come before.

Water  Rat

6 Dec - 4 Jan

Yet another turn of fortune after such a splendid rise was hardly unexpected, but none is more welcome for its being so. Perhaps the gleam from some false gems off to the side has bewitched the dragon, which, once again, slips slightly down.

Earth  Ox

5 Jan - 3 Feb

The final month is naturally unforeseen. While now quite accustomed to the rollercoaster ride the dragon has provided, the unheralded rise is as welcome as it is surprising. A final flourish before the curtain call on the drama of another dragon year.

Feng Shui Index 2024 report

Year of the Wood Dragon

Sorcerer: Dr James Greenbaum
Sorcerer's apprentice: Stella Liu
Wand bearer: Justin SL Chan
Director/Editor: Sandy Chen Dowling; Yukti Vidyarthi
Translation editor: Sandra Tsui
Design/Art: Cecilia Wong; Elva Lau; Lizzie Lau; Patrina Leung; Jon Berkeley
Web development: Paul Ngan; Timothy Wang
Video production: Alexandra Lee; Joy Zhou
Thanks to: Christina Qianna; Ellen Lo; Melanie Ng; Priscilla Man
Producer: Liz Patterson

Launched in 1992 as a Chinese New Year card, the CLSA Feng Shui Index is a light-hearted outlook for the Hong Kong market and a well-loved firm tradition. Please note that this guide is not a research report.